AkzoNobel considers purchase of BASF business

Photo: BASF

AkzoNobel confirmed in a media release that it is in discussions with BASF with regards a potential purchase of their Industrial Coatings business.

"The strategy of AkzoNobel of driving operational excellence and organic growth includes the possibility to pursue value generating, bolt-on acquisitions," AkzoNobel said.

Dutch chemicals group AkzoNobel is one of the world's largest paint and coatings makers.

Unlike BASF's much larger automotive coatings business, the industrial coatings operation is seen as lacking the scale to compete effrectively in future, according to Reuters citing industrial experts.